Rockville Centre man nabbed in investment scheme, officials say

Federal prosecutors in Brooklyn on Thursday charged a Rockville Centre man with bilking five people of more than $440,000 in a fraudulent investment scheme that began more than two years ago.

Defendant Patrick Schiro was charged with securities fraud for making misrepresentations about the size of his fund and its performance, and then spending the money investors gave him on college tuition for one of his children, cash withdrawals and personal expenses ranging from Amazon to restaurants.